Moroccan Dirham (MAD)
The dirham has been Morocco's currency since 1960, when it replaced the Moroccan franc shortly after independence. Its value is managed against a currency basket weighted heavily toward the euro, with the US dollar making up a smaller share — a system Bank Al-Maghrib has gradually made more flexible since 2018 to allow the dirham to float within a wider band.
MAD ⇄ USD Converter
History
Morocco used the French-administered Moroccan franc during the protectorate era. After independence in 1956, the country introduced the dirham in 1960 as a fully sovereign currency, replacing the franc at a rate of 100 francs to 1 dirham. Bank Al-Maghrib, founded in 1959, has managed the currency since, gradually widening its trading band around the reference basket in 2018 and 2020 as part of a broader move toward exchange-rate flexibility.
Denominations
Moroccan dirham banknotes currently circulate in these denominations:
- 20, 50 dirhams — smaller everyday notes
- 100, 200 dirhams — common notes for larger purchases
Coins are issued in 1, 5, 10, 20, and 50 centimes, plus 1, 2, 5, and 10 dirhams.
Frequently Asked Questions
What is the currency symbol for the dirham?
It's commonly written as DH or د.م. Its ISO 4217 currency code is MAD.
Is the Moroccan dirham pegged to a single currency?
No — it's managed against a basket weighted mostly toward the euro with a smaller US dollar share, and has traded within a progressively wider band since reforms began in 2018.
Can I exchange dirhams outside Morocco?
The dirham is only lightly traded internationally, so it's best exchanged at banks or licensed bureaux de change within Morocco, or via major transfer services before travel.
Where can I see rates for other African currencies?
Check the full currency directory on the African Currencies homepage, which covers all 54 African countries.